Company newsOyu Tolgoi's massive copper-gold-silver complex will reach commercial production by 2013, Rio Tinto (LSE:RIO,ASX:RIO,NYSE:RIO) said Thursday in response to a media report stating that the company is considering a temporary halt in construction for political reasons. "The power is secured, first ore produced and the concentrator switched on," Rio Tinto spokesman Illtud Harri told Reuters. "We are on schedule for first commercial production in the first half of the year." Rio was allegedly considering halting the $6.2-billion project to protest Mongolia's demands for a larger stake in the project and new royalty rates, Bloomberg reported.
Russian Gold Company Merger In The Offing
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